No-buy days and cart pauses: How Gen Z is reshaping money habits

₹1 lakh.”Santosh Joseph, founder of Germinate Investment Services, added: "People earlier were told what to do, but never the why. Now social media sells the benefits through these tips."But accessibility comes with risks.“The biggest issue is oversimplification,” Anooshka warned. “Wealth creation is complex, but social media often reduces it to quick tips.”There’s also the problem of context—what works for one person may not work for another.

A no-buy challenge could curb spending for some but trigger binge spending for others.Santosh also flags hidden incentives. Financial content is often tied to product promotion—credit cards, investment apps, “zero-cost” EMIs.“You’re told you’re saving 70%, but you’re still spending 30% you wouldn’t have otherwise,” he said. This is where awareness becomes critical.

Not every “hack” is neutral. Some are designed to influence behaviour, not always in the audience’s best interest.Another issue to be mindful of is the lack of fiduciary responsibility when it comes to the people who formulate these tips. Unlike registered financial planners such as Sebi-registered advisors in India, most social media “influencers" may not be licensed.

While a licensed professional is legally and ethically bound to act in your best interest, an influencer could only be bound by their engagement metrics or sponsorship contracts and not the users’ best interests.That’s where the real shift lies.Traditional financial advice is structured and long-term. Social media tips are modular—pick what works, ignore the rest.Nandini’s “no-buy period” is a good example. It’s not a full overhaul, but a small, adaptable tweak.Relatability is key.